The most important stories from the week impacting your portfolio.

A bummer week for banks: Are we on the verge of a crisis of confidence in banking? Silicon Valley Bank failed over the weekend, prompting the OFSI to take control of its Canadian branch. Then news of Credit Suisse’s turbulence caused global stock prices to fall substantially after the bank’s largest lender turned off the taps. 

VW puts EV roots down in Ontario: The province was sending out big “pick me” vibes, and it worked—German carmaker Volkswagen will build its first overseas battery cell manufacturing gigafactory in St.Thomas. Details are still to come, but this is the second EV battery facility coming to Ontario, with Stellanis building a $5 billion plant in Windsor. 

Firm on french fries: McCain Foods Ltd. is doubling down on its french fry business and announced plans to invest $600 million to double its processing capacity of spuds at its southern Alberta facility. The company boasts that it supplies one in four french fries produced worldwide, and says the investment is a bet on Canadian agriculture since potatoes are the country’s fifth biggest agricultural crop. 

Workin’ on the railroad: US regulators gave Canadian Pacific Railway Ltd. the green light to take over Kansas City Southern Railway Co. The $31 billion deal will create the only single-line rail network linking Canada, the US and Mexico and optimize north-south trade flow.